Corn and Soybean Export Commitments Soar, Despite Softening Demand

USDA Export Sales data for corn and soybeans shows robust early-season bookings for both crops, outpacing the same period last year. According to the US Department of Agriculture, corn net sales climbed by 1.05 million metric tons, with 816,100 tons designated for the upcoming marketing year. Cumulative corn commitments reached 87.74 million tons, compared to 70.49 million tons at this time in the prior year.

Soybean net sales advanced by 1.81 million tons, including 1.72 million tons slated for the next marketing year. However, total soybean commitments settled at 41.87 million tons, trailing the 51.00 million tons recorded a year earlier, underscoring softer overall demand despite the recent uptick in new-crop buying.

The figures arrive as market participants weigh US crop availability and export prospects following the USDA's August supply-and-demand report, which lifted production estimates for both corn and soybeans.